HDFC Beats ICICI On Social Media; SBI Triples Its Digital Presence In 3 Months
Social media presence of Indian banks is slowly but gradually improving. In the month of May, we had presented a research on present state of social media rankings of Indian banks, wherein ICICI bank was the clear winner.
The rankings done by Simplify360 in the last 2 months have been updated based on the current statistics, and there are some major surprises in store.
HDFC has overtaken ICICI to become the #1 bank inside Indian social media space.
As Standard Chartered Bank and Citi Bank doesn’t have any Indian specific Twitter handles, only Facebook scores have been derived to bring out these rankings.
Simplify360 uses a proprietary tool to listen to the social media conversions happening around the top 9 Indian banks to come out with this ranking. Total of 62,000 social media conversions were studied and researched for this study.
Some other interesting statistics from this research:
Yes Bank Is Dominating Twitter; SBI Catching Up Fast
Yes Bank has adapted a very interesting strategy to create posts around the most happening events, which enables them to maintain their lead on Twitter.
For example, here is a Tweet from Yes Bank during FIFA World Cup:
In the last rankings as well, they were the clear winners of the Twitter race.
In terms of growth of Twitter followers as well, Yes Bank is way ahead of others. But the growth demonstrated by SBI is simply tremendous: from 2416 followers in April, they now have 11,681 followers!
As we will see further, they have done some really good work in Facebook as well.
Axis Bank has most engagement on Facebook
In terms of engagement, Axis Bank has beaten even ICICI and HDFC banks. Their Facebook strategy is pretty interesting as they are very much into eCommerce and introduction of new ideas.
An example of their highly engaged Facebook posts:
Compared to last rankings, Axis Bank has certainly improved a lot:
ICICI Has Largest Share of Fans On Facebook
Compared to 23% of Axis Bank, ICICI has 28% share of overall Facebook fans inside the banking niche. HDFC is closely following these banks at 20% share.
Facebook Growth: SBI is now Running
In terms of growth of new fans and followers on Facebook, SBI has beaten them all! In the last three months, they have increased almost three times of their initial size: From 86,679 in April, they have increased to 3,06,863 Facebook fans in June.
Yes Bank is also growing at a healthy pace. Rest all the banks are able to maintain their huge size.
Share of Voice
Top 3 banks in India have gobbled up 70% of social media mentions among themselves. HDFC is at #1 position with 30% share of overall social media mentions, meanwhile ICICI is at #2 position with 26% share. Record of Social media mentions have taken into account both earned and owned media.
Earned media is the free publicity received from users and social media fans meanwhile owned media is the marketing activities done on their own platforms such as websites and blogs.
Here is the breakdown of Earned and Owned media:
Overall, the social media buzz of these top 9 banks, based on the 62,000 conversations for the month of June, 2014:
How is your bank faring in the social media race? Do share your side of the story by commenting right here!